Reinsurance News

Aon news

Aon news, related to the insurance and reinsurance broking operations of the global consultancy and intermediary business.

Aon is one of the world’s largest brokers of both insurance and reinsurance business.

Cyber attack/data breach top business risk in Asia Pacific: Aon

22nd November 2023

Global professional services firm Aon has unveiled its 2023 Global Risk Management Survey results, highlighting cyber attack/data breach as the top concern for organisations in the Asia Pacific region. Aon CEO, Greg Case, emphasised the heightened awareness of interconnected risks and people challenges, citing the dynamic landscape of trade, technology, weather, ... Read the full article

Generative AI expected to impact many different insurance lines: Aon

22nd November 2023

The insurance market’s overall understanding of generative AI-related risk is still within it's early stages, but this developing form of the technology is expected to impact many different lines within the sector, such as Technology Errors and Omissions / Cyber, Professional Liability, Media Liability, Employment Practices Liability, and more, reports ... Read the full article

Insurers navigate pricing pressures, capacity constraints, and underwriting shifts: Aon

21st November 2023

In the third quarter of 2023, the global insurance market witnessed a dynamic landscape, as outlined in the latest insights provided by Aon. Several key factors shaped the market during this period, influencing pricing, capacity, underwriting practices, limits, deductibles, and coverages across various insurance products. Adverse claims trends exerted upward pressure on ... Read the full article

Property insurance market braces for year-end challenges: Aon

20th November 2023

In a recent report by Aon, the Global Insurance Market Insights for Q3 2023 sheds light on the key challenges facing the Property insurance market as the industry approaches the crucial year-end period. As insurers gear up for the peak reinsurance renewal season and the conclusion of the Atlantic hurricane season, ... Read the full article

Aon expands Climate Risk Advisory function across Risk Capital

10th November 2023

Aon has expanded its Climate Risk Advisory function across the firm’s Risk Capital capability, to "further serve clients’ advanced risk analytics needs in both Commercial Risk Solutions and Reinsurance Solutions." The expanded service will continue to be led by Liz Henderson, global head of Climate Risk Advisory for Risk Capital. Henderson has ... Read the full article

Failure to attract or retain talent becomes key business risk: Aon

9th November 2023

Human capital issues have become a key business risk fueled by the competition for talent and workforce shortages among other issues, a recent Aon report has revealed. Failure to attract and retain talent reached the highest ever ranking position in Aon’s 2023 Global Risk Management Survey, as it took fourth position ... Read the full article

Aon announces a number of new UK partners

7th November 2023

Insurance and reinsurance broking group, Aon, has announced the appointment of 12 new UK-based partners in the Wealth and Talent Solution Lines of its Human Capital capability. A client manager with over three decades of pension experience, Sue Austen will lead Aon’s secretariat, pensions management and secondment services. Austen will be responsible ... Read the full article

Windstorm Ciarán leaves Western Europe bracing for hundreds of millions Euros in losses: Aon

3rd November 2023

Western Europe was struck by the powerful Windstorm Ciarán on November 1-2, leaving a trail of devastation and economic uncertainty in its wake, with initial expectations suggesting that this storm, particularly impactful in France, may result in significant economic and insured losses, with early estimates reaching into the hundreds of ... Read the full article

Aon to consolidate UK and EMEA regions, naming Julie Page as CEO

2nd November 2023

Insurance and reinsurance broking group, Aon, has disclosed its plan to consolidate its client service operations in the UK and EMEA regions, appointing Julie Page as the CEO for the merged region, with this transition set to take effect on November 15. Aon said the current EMEA CEO Eduardo Dávila would ... Read the full article

Billions of USD in economic losses anticipated for Hurricane Otis: Aon

31st October 2023

Hurricane Otis, the strongest hurricane ever to hit Mexico, has not only left a trail of destruction but is poised to deliver a staggering blow to the local economy, with initial expectations from independent experts suggesting total economic losses will likely reach into the billions of USD, according to a ... Read the full article

Aon’s Reinsurance Solutions delivers 11% organic revenue growth in Q3’23

27th October 2023

Global broker Aon’s Reinsurance Solutions arm achieved organic revenue growth of 11% in the third quarter of 2023, as revenue across the group increased by 10%, year-on-year, to $2.95 billion, reflecting organic revenue growth of 6%. This growth in organic revenue in the reinsurance arm was driven by strong retention and ... Read the full article

Aon names Mona Barnes as Chief Claims Officer, Global Broking Centre & UK

27th October 2023

Insurance and reinsurance broking group, Aon, has appointed Mona Barnes as Chief Claims Officer, Global Broking Centre (GBC) & UK, reporting to James Baum and Neil Harrison. The appointment is effective from 30th October 2023. In her new role, Barnes' remit will include overseeing teams of claims professionals dedicated to the London ... Read the full article

Aon & IFRC DREF Insurance a vital mechanism for enhancing risk transfer: IFRC

26th October 2023

The Disaster Response Emergency Fund (DREF) Insurance mechanism, pioneered by International Federation of Red Cross and Red Crescent Societies (IFRC) in partnership with Aon, is a vital new approach for enhancing preparedness and risk transfer, IFRC Under Secretary General, Nena Stoiljkovic, highlighted. A recent London Summit brought together leaders and decision-makers ... Read the full article

9M 2023 global insured cat losses 17% higher than 21st century annual average: Aon

20th October 2023

Global re/insurance broker Aon, in its Q3 Global Catastrophe Recap report, has stated that global insured losses from natural disaster events had reached $88 billion by the end of Q3 2023, 17% higher than the 21st-century annual average, driven by so-called secondary perils. Aon highlights U.S. and Italian severe convective storms ... Read the full article

Aon’s Franchise Solutions program launches in North America

20th October 2023

Global re/insurance broker Aon has announced the launch of its multi-industry Franchise Solutions program in North America, designed to better inform, advise and protect businesses. The new offering, powered by CoverWallet technology, aims to help franchise businesses understand and manage risk across their franchisee network, while also delivering customised insurance programs ... Read the full article